Column : The Modi metric
An argument for Prime Ministership which all can respect, including all the contenders, is that the best choice for the Prime Minister is one who can deliver the most inclusive growth. Now inclusion means different things to different people, and especially to different economists, so one needs a more concise definition of what inclusion means.
Inclusion is another word for good governance and good governance generally implies equitable growth. And equity should incorporate concerns about gender, caste and religion. As a first step, let me offer two different indicators of growth, and four different indicators of equity. The two years chosen for analysis are 1999-2000 and 2009-10. These years correspond to availability of NSS household data. The two growth indicators are (1) per capita growth as given by state GDP accounts, and (2) state per capita consumption growth as given by NSS data. The NSS data on consumption miss out more than half of national accounts consumption and may not be an accurate indicator of
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